Market News
A Captive Insurer Should Have Written Claims Handling Procedures
The best practice for a captive insurer is to have claims handling procedures, says Lynn Sheils, senior vice president and general counsel of EWI Reinsurance. The procedures should discuss all stages in the life cycle of a claim, including how notice will be handled, investigation standards, coverage evaluation, reserving approach, and claim closure philosophy. Read More
85 Percent of Insurance CEOs Concerned about Speed of Technological Change
Though insurance CEOs are more concerned about the pace of technological change than are CEOs in any other industry, more than 90 percent of insurance CEOs are confident about their own organization's revenue prospects over the next three years. Read More
Marsh Gets into Blockchain
This month, Marsh revealed that it has joined the Enterprise Ethereum Alliance (EEA), the world's largest open source blockchain initiative with more than 400 member companies. The EEA seeks to create open industry standards and frameworks for blockchain applications based on the core Ethereum platform. Read More
Candidates for Small Captive Formation: Getting It "Right"
Panelists at the recent Captive Insurance Companies Association conference said that getting small captives "right" involves reviewing the characteristics of each small captive candidate. While each situation is specific to the organization, the panelists shared their thoughts on candidates that are suited for small captive formation. Read More
A Reinsurance Market Overview for 2018 from the World of Captives
Michael Woodroffe, president of Kirkway International Limited, provided a reinsurance market overview for 2018 at the World Captive Forum. Mr. Woodroffe commented on various aspects of the market, some of which are captured here. Read More